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paul ryan was their deficit guy, and that deficit argument, that the deficit was too big, one of their main arguments against re-elected president obama. >>> we have just received the new estimate of what the deficit is going to be by the end of this year. this is what the deficit had been up through last year, so 2009. that's president obama's first year, 2010, 2011, 2012. now show the next year. this is what they had projected the deficit would be by the end of this year. but now that estimate has been revised. they have revised the projected deficit for this year, and as of now, this is what the new deficit -- we have that slide whistle. we have never used it before. are you kidding me? the opportunity cost. anyway. as of now, this is what the new estimate of what the deficit will be by the end of this year. as you can see, this means that the deficit has shrunk by about $800 billion. since president obama has been in office. this is the fastest deficit reduction we have had as a country since world war ii. and honestly, that's kind of terrible. it's kind of terrible to the extent t
paul ryan was their deficit guy, and that deficit argument, that the deficit was too big, one of their main arguments against re-elected president obama. >>> we have just received the new estimate of what the deficit is going to be by the end of this year. this is what the deficit had been up through last year, so 2009. that's president obama's first year, 2010, 2011, 2012. now show the next year. this is what they had projected the deficit would be by the end of this year. but now...
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May 15, 2013
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the smallest deficit sense 2008 which is five years ago. the deficit had been topping $1 trillion every year cynic the recession ended four years ago. they credit the economic recovery, new tax rules and spending cuts with shrinking the deficit. we'll be right back. i'm so glad you called. thank you. we're not in london, are we? no. why? apparently my debit card is. what? i know. don't worry, we have cancelled your old card. great. thank you. in addition to us monitoring your accounts for unusual activity, you could also set up free account alerts. okay. [ female announcer ] at wells fargo we're working around the clock to help protect your money and financial information. here's your temporary card. welcome back. how was london? [ female announcer ] when people talk, great things happen. lovely read susan. may i read something? yes, please. of course. a rich, never bitter taste cup after cup. 340 grams. [ sighs ] [ male announcer ] always rich, never bitter. gevalia. >>> it may seem hard to believe that you're not experiencing day sha 52 h
the smallest deficit sense 2008 which is five years ago. the deficit had been topping $1 trillion every year cynic the recession ended four years ago. they credit the economic recovery, new tax rules and spending cuts with shrinking the deficit. we'll be right back. i'm so glad you called. thank you. we're not in london, are we? no. why? apparently my debit card is. what? i know. don't worry, we have cancelled your old card. great. thank you. in addition to us monitoring your accounts for...
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May 14, 2013
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austerity cut the public role, that does nothing except hurt the deficit. if you want to reduce the deficit, the best thing you can do is invest in education. the education of american people brings more money to the treasury than anything you name, whether it's early childhood k-12, higher ed, lifetime learning, and to cut education is to increase the deficit. so thank you for posing that question. >> congresswoman, really great pleasure to have you here. thank you so much. >> thank you very much. my pleasure, good luck to you and congratulations. >> thanks again to democratic house leader nancy pelosi for joining me earlier today. that's all in for this evening the rachel maddow show starts now. >> congratulations on that interview. that was riveting. >> thanks. >> thanks to you at home, as well, for staying with us for the next hour. on one of those news days where a lot of very big news broke only to be stepped on by the next big thing breaking a few minutes later. today, for example, a maintain into custody in detroit after a pressure cooker was found
austerity cut the public role, that does nothing except hurt the deficit. if you want to reduce the deficit, the best thing you can do is invest in education. the education of american people brings more money to the treasury than anything you name, whether it's early childhood k-12, higher ed, lifetime learning, and to cut education is to increase the deficit. so thank you for posing that question. >> congresswoman, really great pleasure to have you here. thank you so much. >>...
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May 18, 2013
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we reduce the deficits. >> spending is out of control. >> the tremendous deficits. >> debts out of control. it is kicking the can down the road an frankly we're out of road. >> really? the best part of this story is how progressive policies took the air out of the deficit. that's been going since george w. bush took office. now republican cuts from sequestration and the fiscal cliff deal did not reduce the deficit. they weren't even part of the calculations. here's what did help slink the deficits. tax heights on the wealthy americans an obama care. joining us with the rapid response are my guests. great to have you all with us. mike, why aren't the republicans talking about the deficit anymore? >> well it's bad news. look this is terrible news, ed. the only way to analyze the deficit to look at the ratio. u's called the gdp to debt ratio. obama came in with the 10% to debt to gdp ratio. he has it down to 4%. they sate's going to down to 2%. those are not great talking points for republicans. >> david does the massive deficit debt reduction hurt job growth. >> we would be much better off i
we reduce the deficits. >> spending is out of control. >> the tremendous deficits. >> debts out of control. it is kicking the can down the road an frankly we're out of road. >> really? the best part of this story is how progressive policies took the air out of the deficit. that's been going since george w. bush took office. now republican cuts from sequestration and the fiscal cliff deal did not reduce the deficit. they weren't even part of the calculations. here's what...
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. >>> "usa today" says the deficit is shrinking. a $240 billion deficit is predicted for this fiscal year down $200 million from an estimate in february. it is the smallest number since 2008. we've been running trillion dollar deficits for years. this is interesting. >>> the chicago tribune says the nation's airlines collected nearly $3.5 billion in baggage fees last year. they also made more than $2.5 billion from changes in reservations. the industry made a profit solely because of the fees. >>> "the wall street journal" says cardinal sean o'malley will skip this year's graduation ceremony in boston college. he traditionally delivers the blessing. but o'malley will not attend because he objects to another speaker. the prime minister of ireland. he supports legislation in ireland that would permit abort the mother. >>> and the los angeles times says hip hop star dr. dray and music mogel adine will announce today they are donating $70 million to the university of southern california. the money will go toward a new academy. it will h
. >>> "usa today" says the deficit is shrinking. a $240 billion deficit is predicted for this fiscal year down $200 million from an estimate in february. it is the smallest number since 2008. we've been running trillion dollar deficits for years. this is interesting. >>> the chicago tribune says the nation's airlines collected nearly $3.5 billion in baggage fees last year. they also made more than $2.5 billion from changes in reservations. the industry made a profit...
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paying down our deficit. it is kicking the can down the road and frankly, we are out of road. >> you would think that those people would all be pushing to take credit for our incredible deficit reduction celebrating that there would be press conferences. but no, there was nothing. what makes that nothing this week so very ironic is that not only did republicans essentially ignore the cbo report but they chose to spend the time they should have been out celebrating our lowest predicted deficits since 2008 trying once again to repeal obama care. they voted for the 37th time to repeal obama care despite the fact that there is good reason to believe that obama care is to credit for much of the remarkable deficit reduction projected this week by the cbo. the deficit reduction republicans used to hold up as their entire reason for being. because the biggest driver of our long term deficits is rising health care costs and -- get this -- between 2009 and 2011, total health spending grew at the lowest annual pace in t
paying down our deficit. it is kicking the can down the road and frankly, we are out of road. >> you would think that those people would all be pushing to take credit for our incredible deficit reduction celebrating that there would be press conferences. but no, there was nothing. what makes that nothing this week so very ironic is that not only did republicans essentially ignore the cbo report but they chose to spend the time they should have been out celebrating our lowest predicted...
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and the amazing shrinking american budget deficit. i'll ask mitt romney's chief economic adviser whether he thinks the problem has gone away. >>> also, as america prepares to draw down from afghanistan, what can it learn from britain's withdrawal 170 years ago? i'll ask theauthor of a great new book. >>> next, a look into the crystal ball of technology with google's executive chairman eric schmit. a sure fire plan to reduce carbon dioxide emissions. how so? stay tuned. >>> first, here is my take. conservatives are, of course, mad at barack obama. we'll talk about the various scandals in a moment, but they're also mad at a country that isn't mad enough at him. this frustration is now taking over main stream and intelligent voices within the conservative movement and about broader issues than benghazi. brett stevens, the columnist for "wall street journal" lementes that president obama is not paying a price for a foreign policy that he, stevens, describes as isolationist. now, isolationism will come as a surprise to the diplomat soldier
and the amazing shrinking american budget deficit. i'll ask mitt romney's chief economic adviser whether he thinks the problem has gone away. >>> also, as america prepares to draw down from afghanistan, what can it learn from britain's withdrawal 170 years ago? i'll ask theauthor of a great new book. >>> next, a look into the crystal ball of technology with google's executive chairman eric schmit. a sure fire plan to reduce carbon dioxide emissions. how so? stay tuned....
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that is the deficit problem. without entitlement reform there is no amount of growth that will fix it. melissa: christian, isn't this all noise and nonsense until we fix that problem? >> well, not exactly because, you know, when you have an economy that's suffering from high unemployment andd3 stagnating wages you're not at your full productive capacity. once you reach that level as we've seen in the last few months, once you increase revenues whether it comes from tax increases or improved economic conditions, you drastically and very quickly lower your debt position and your deficit position. that should be the first order of business. that is really what we do first before we figure out what is our true remaining structural long-term deficit. melissa: okay, but doug, you're a numbers guy. let's do thisatively, rather than with our emotions. can the economy quantitatively grow enough to deal with paying for our promises for the entitlements and the system that we have laid out? >> no. at the heart of this are p
that is the deficit problem. without entitlement reform there is no amount of growth that will fix it. melissa: christian, isn't this all noise and nonsense until we fix that problem? >> well, not exactly because, you know, when you have an economy that's suffering from high unemployment andd3 stagnating wages you're not at your full productive capacity. once you reach that level as we've seen in the last few months, once you increase revenues whether it comes from tax increases or...
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being efficient would be a play to conservatives especially those who say the focus is budget and the deficit here and the millions being spent to keep this facility open and afloat. >> there are lots of other important arguments that he's made in the past and can make again about the effectiveness of guantanamo, about the fact that suspects can be tried in federal court, and nothing has changed the basic politics of this. i think chris is right. it's very difficult to see what republicans have yet been won over in recent years and he's had a harder time more recently with his agenda on capitol hill and the logistical hurdles of what with to actually do changes. his personal commitment is important, but he was committed from day one. it was one of his first executive orders. beyond his passion, it's hard to say what's different as with everything on his agenda, he has the potential to make it work this tim. >> one thing that is different now, you have 100 of 166 on a hunger strike and it's been noted if one of those individuals dies and then another, is there greater complexity thrusted on th
being efficient would be a play to conservatives especially those who say the focus is budget and the deficit here and the millions being spent to keep this facility open and afloat. >> there are lots of other important arguments that he's made in the past and can make again about the effectiveness of guantanamo, about the fact that suspects can be tried in federal court, and nothing has changed the basic politics of this. i think chris is right. it's very difficult to see what...
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neil: deficits are tumbling the revenues are coming in. >> then the next thing you know the wags, you know --. neil: we don't have to cut. we don't have to cut. >> cbo says problem solved. this is what some blogger on "the washington post" said today believe the cbo forecast i have some swampland in florida. they suggest 40 years no recession or no economic dislocation we will create seven times more jobs in the next decade than we did over the next decade with wage and salary growth two times what has been. >> that $642 billion it is a lot less than it was in well under $1 trillion and we can remember a time when deficits were approaching $100 billion now we celebrate 642 billion but whatever that is. >> of course, $50 billion is a pavement a tax gimmick from fannie mae. where do they get the 60 million? they borrow it. neil: a lot of it is a tax increase. that part is there temporarily because with the fiscal cliff came at the end of the year there was a huge pre-emptive realization and bonuses were paid and 100 billion as one time revenue. neil: so you say with a focus on the lates
neil: deficits are tumbling the revenues are coming in. >> then the next thing you know the wags, you know --. neil: we don't have to cut. we don't have to cut. >> cbo says problem solved. this is what some blogger on "the washington post" said today believe the cbo forecast i have some swampland in florida. they suggest 40 years no recession or no economic dislocation we will create seven times more jobs in the next decade than we did over the next decade with wage and...
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neil: we are celebrating the deficits come and is not as big as we thought. only in washington. only in washington can they celebrated us visit that is no longer a trillion dollars. welcome, i am norto. when it gets down to $700 billion or so, you'd think the you hit the jackpot, sort of like the guy 700 pounds loses 10 pounds and thinks that he is winning the battle. about $231 billion last than this time last year. that is $16.7 trillion. a flood of retiring baby boomers just keeps getting in. it usually proves that they grow to have a depressing and they ultimately end up in those places. so let's not get ahead of ourselves and think that we have hit a triple this because we broke up on third base. we did not. former house republican leader dick armey warned his colleagues not to use this as an excuse to give up the spending fight. but dick, i'm worried that's what will happen. >> i think the republicans need to understand that they have a special place right now in this country. the whole obama administration, 90% of the press, they are in a sea of delusion. and if the repub
neil: we are celebrating the deficits come and is not as big as we thought. only in washington. only in washington can they celebrated us visit that is no longer a trillion dollars. welcome, i am norto. when it gets down to $700 billion or so, you'd think the you hit the jackpot, sort of like the guy 700 pounds loses 10 pounds and thinks that he is winning the battle. about $231 billion last than this time last year. that is $16.7 trillion. a flood of retiring baby boomers just keeps getting...
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the smallest deficit sense 2008 which is five years ago. the deficit had been topping $1 trillion every year cynic the recession ended four years ago. they credit the economic recovery, new tax rules and spending cuts with shrinking the deficit. we'll be right back. >>> welcome back to "hardball." may seem hard to believe that you're not experiencing deja vu here, but it happened again now, a military serviceman whose job it is to protect against sexual assault has excused himself of sexual assault. latest case involves a ft. hood sergeant. you won't believe this, i couldn't believe it, into prostitution and for sexually assaulting this guy did apparently charged with two others. the army's not releasing his identity as he has not been charged officially, but get a load of his job title, sexual harassment response and coordinator. that's right, the guy you're supposed to go to for help is accused of sexually assaulting someone. this comes just one week after the man in charge of sexual assault from the entire air force was charged with sexu
the smallest deficit sense 2008 which is five years ago. the deficit had been topping $1 trillion every year cynic the recession ended four years ago. they credit the economic recovery, new tax rules and spending cuts with shrinking the deficit. we'll be right back. >>> welcome back to "hardball." may seem hard to believe that you're not experiencing deja vu here, but it happened again now, a military serviceman whose job it is to protect against sexual assault has excused...
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deficits are coming down in the short run. but you talk about how the seeds for our fiscal destruction were planted even before barack obama was sworn in. >> sure. >> what role does george w. bush play in this story? >> certainly the medicare expansioned and spending growth are problematic too. the issue facing the country is not a democrat or republican problem, it's how to get our political leaders focused on the need to get debt under control. and it's not having any green eye shades view. back to you question, about gronel and h growth and how to get the country going again. >> richard, how long is it in the long term but the short run the united states having power across the globe? >> absolutely. we have to put our house in order. to lead across the word we need our house in order to set an example. tying into what we are talking about here. when we don't function politically how do we persuade any other people to adopt what we have what we can't make it work in the united states? >> go ahead. >> when you look at europea
deficits are coming down in the short run. but you talk about how the seeds for our fiscal destruction were planted even before barack obama was sworn in. >> sure. >> what role does george w. bush play in this story? >> certainly the medicare expansioned and spending growth are problematic too. the issue facing the country is not a democrat or republican problem, it's how to get our political leaders focused on the need to get debt under control. and it's not having any green...
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May 15, 2013
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outreach that obama had been doing, having dinner with republicans trying to get a big deal on the deficit. do these three issues, benghazi, the irs and the ap scandal make it so there will be no discussion in the coming months. >> governor rendell. i want to play this rnc video. its vitaled demand transappears. >> to hold it accountable. there's many secrecy in the city. i will also hold myself as president to a new standard. >> society rnc at least believes they have some legs here. are they overplaying their hand already. you even have conservative charles hummer saying let the facts speak for them. don't overplay, but the ads are out. >> that's the problem in washington today. everyone wants to use these for political purposes. look, there are legitimate things we've got to cure. in the irs scandal, obviously what happened is bad. the people that did it should be held responsible and i think fired. but we should take a look at what is a social welfare group that is tax exempt. clearly, bill burton's group on our side wasn't a coin and never shouldn't have been declared tax exempt. neit
outreach that obama had been doing, having dinner with republicans trying to get a big deal on the deficit. do these three issues, benghazi, the irs and the ap scandal make it so there will be no discussion in the coming months. >> governor rendell. i want to play this rnc video. its vitaled demand transappears. >> to hold it accountable. there's many secrecy in the city. i will also hold myself as president to a new standard. >> society rnc at least believes they have some...
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congressman ryan, are you going to be able to work with the administration on things like the economy and the deficit and immigration reform while congress also spends so much time focused on discovering more and doing more in oversight on the scandals and controversies. here's what he had to say. >> we have to do our job to our constituents to do oversight of the federal government, we're not getting straight answers on benghazi. we're not getting straight answers on the irs. clearly we're worried about intimidation of the press with respect to the doj scandal. that doesn't mean we're only going to do that. >> his point is they can walk and chew gum at the same time, that members of congress have this oversight responsibility, but you heard him say, very pointedly, we're not getting straight answers on benghazi, we're not getting straight answers on the irs. there is a lot of feeling by republicans and even some democrats in congress that the testimony today by the acting irs commissioner did him more harm than good. even if he's on his way out the door, there are questions about whether or not he's
congressman ryan, are you going to be able to work with the administration on things like the economy and the deficit and immigration reform while congress also spends so much time focused on discovering more and doing more in oversight on the scandals and controversies. here's what he had to say. >> we have to do our job to our constituents to do oversight of the federal government, we're not getting straight answers on benghazi. we're not getting straight answers on the irs. clearly...
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they maintain right up until the end a deficit of 4.7. so in that sense, they can say -- without a set of numbers they are stuck by them. the numbers are wrong. they internally knew that the numbers were wrong, and, you know, people like -- [inaudible] very publicly said the numbers are wrong. that the government was sticking to the wrong numbers. the true numbers -- so i think that it's -- i don't think there's been any sort of misreporting in the sense of the ministry of finance is sort of -- keeps producing new numbers that are variance of a fact. what they have done is sticking to an old set of budget protections and try to maintain that. when the true numbers are -- [inaudible] they know that. >> thank you. i want to respond to the other comment it's not polarization -- [inaudible] [inaudible] phenomena that you have a party which had support all across pakistan. secondly, i think -- [inaudible] party has done -- [inaudible] not in one bank like bbb is to the barning -- bank [inaudible] so the example of -- would not to the issue of
they maintain right up until the end a deficit of 4.7. so in that sense, they can say -- without a set of numbers they are stuck by them. the numbers are wrong. they internally knew that the numbers were wrong, and, you know, people like -- [inaudible] very publicly said the numbers are wrong. that the government was sticking to the wrong numbers. the true numbers -- so i think that it's -- i don't think there's been any sort of misreporting in the sense of the ministry of finance is sort of --...
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well it was a string of republican and democratic decisions to not hit the full number on security deficits. this is outrageous and senator menendez says we know about benghazi? somebody will puke out there outrageous conduct. [laughter] >> no vomit here in washington d.c. tonight studio number four. lou: maybe you are tougher. >> we have been marinating longer but to your point* the president today was so careful with the artfully crafted all of his theaters were artfully crafted and careful not to blame funding for the attackkin benghazi but mentioning funding a rounded to create the inference. boxer was less careful and when you ask about the ira'she ? he did not answer the question so he was very legalistic. lou: this is moving from a crisis of confidence, it seems to me, directly to a constitutional crisis. this president has lost his credibility. it has been shredded. where are we headed? >> but his ability is to get things done and there is no appetite in washington to get anything done with scandal swirling around the president so beleaguered not he is labor it they and lame in the
well it was a string of republican and democratic decisions to not hit the full number on security deficits. this is outrageous and senator menendez says we know about benghazi? somebody will puke out there outrageous conduct. [laughter] >> no vomit here in washington d.c. tonight studio number four. lou: maybe you are tougher. >> we have been marinating longer but to your point* the president today was so careful with the artfully crafted all of his theaters were artfully crafted...
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they are operating from such a credibility deficit, it's impossible for them to get them out of it. i hope they use the opportunity, never let a crisis go to waste, fundamental tax reform could solve a lot of this in the long run. there is a short and medium and long term problem. irs is going to have to do a wholesale name change, sort of like philip morris came up with new name that stays out of the news for the most part of the irs, people do not trust it. taking care of your most personal details, it's not going to work. >> eric: you are smiling. >> greg: the irs in charge of obamacare, like a junkie running a pharmacy. what it really is it's like the tsa. tsa invades you at most vulnerable stated. you are at the mercy of these entities, the irs in a way is like the tsa guilty of profiling. this persecution is more pernicious. they violent you at the -- violate you at healthcare. liberals don't violate us at bedroom and then crawl up your ass. >> you are terrible. >> remember this, targeting conservative groups. $179,000 that is salary plus bonus. 2010, $200,000. 2012, $203,000.
they are operating from such a credibility deficit, it's impossible for them to get them out of it. i hope they use the opportunity, never let a crisis go to waste, fundamental tax reform could solve a lot of this in the long run. there is a short and medium and long term problem. irs is going to have to do a wholesale name change, sort of like philip morris came up with new name that stays out of the news for the most part of the irs, people do not trust it. taking care of your most personal...
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the city said the deficit would be 327 million now orr says it could reach 386 million in less than two months. he says the city will finish the year with a $162 million cash flow short fall. listen to this incredible story and take a look at this video. a tsunami of ice plowing into two dozen lakeside homes in central can can leaving a complete mess behind. the extraordinary event lasted 15 minutes and forced resident to run for their lives. >> i saw the ice just coming, just moving so quickly, the ice caning right through the living room here. he said, grab whatever you can, get the keys we have to get out of here. >> luckily no one was hurt in that freak disaster. it captures a waver ice threatening houses. this happening in arizona. >> cold weather, we need to talk about it. your first degree weather update is here with maria molina. not waking up necessarily to an ice tsunami but colder than normal temperatures. >> we are talking about freeze warnings in effect. watches and frost advisories across a big chunk of the country across parts of the great lakes and through the carolinas
the city said the deficit would be 327 million now orr says it could reach 386 million in less than two months. he says the city will finish the year with a $162 million cash flow short fall. listen to this incredible story and take a look at this video. a tsunami of ice plowing into two dozen lakeside homes in central can can leaving a complete mess behind. the extraordinary event lasted 15 minutes and forced resident to run for their lives. >> i saw the ice just coming, just moving so...
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the board of education approved the deficit elimination plan, and really, chris, i want to thank you and other folks who brought attention to this. it was putting a great big light on this problem that, i think, caused the reverse, of course. and the good news is these kids will be able to finish their school year, and i'm just really happy about that. >> what have we learned about michigan governor rick snyder in this, the fact he seemed willing, the state government seemed willing, to let these kids not be in school and not turn over any money and not find some way initially for a bridge loan or something. what does that say to you about the governor? >> first of all, i want to thank them for doing the right thing, even though it took some time. i'm not really anxious to point fingers. i think what it does show is we have huge inequities in this country and in michigan and lots of other places, and we need to correct those inequities. for every buena vista that had to close, there are hundreds of schools that are functioning barely at the sustainable level and getting marginal educ
the board of education approved the deficit elimination plan, and really, chris, i want to thank you and other folks who brought attention to this. it was putting a great big light on this problem that, i think, caused the reverse, of course. and the good news is these kids will be able to finish their school year, and i'm just really happy about that. >> what have we learned about michigan governor rick snyder in this, the fact he seemed willing, the state government seemed willing, to...
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because the market is going up and the deficit actually went down. >> steve: that's right until for the first time in a long time (you know who else had a surplus? california. >> steve: they still do. from california to texas, and more on that twister out of granbury, texas. this is some of the damage left behind after three big twisters leveled a community built by habitat for humanity. heather nauert standing by with details. >> good morning to you. as we're taking a live look at the pictures, you can see how some homes have been completely devastated, while others seem to not have been touched at all. we are waiting just about 30 minutes from now, officials planning to hold a press conference to update us on the widespread damage outside of dallas. this as we get a better look at the devastation done near there. the violent twisters, one was a mile wide, it completely destroyed houses, hurdling people far from their homes. at least six people are dead and dozens more have been hurt. listen. >> it was loud, very loud, you could just hear things crashing and banging and everything like
because the market is going up and the deficit actually went down. >> steve: that's right until for the first time in a long time (you know who else had a surplus? california. >> steve: they still do. from california to texas, and more on that twister out of granbury, texas. this is some of the damage left behind after three big twisters leveled a community built by habitat for humanity. heather nauert standing by with details. >> good morning to you. as we're taking a live...
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May 15, 2013
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the deficit is getting smaller. a lot smaller. the congressional budget office says it will be $400 million less than the trillion dollars deficit last year. it's down because of higher taxes. a 60 billion check to the government from fannie and freddie. there's a down side for those of us who want the government to get its finances in order, this takes the wind out of the sails of the spending, cutting movement. maybe the deficit news helped stocks, another record close for the dow, 19th this year and same story for the s&p 500, the 14th he record there this year. we're looking at a flat to slightly lower opening today, but that happened yesterday and we still went up 120 by the close. stay tuned. and suddenly, it seems that president obama's second term agenda is unravelling. and the mainstream media have turned on the administration. big government seriously questioned, my, have times have changed. in just ten days. here is the the all-government, all the time president speaking the at ohio state may the 5th. >> unfortunately,
the deficit is getting smaller. a lot smaller. the congressional budget office says it will be $400 million less than the trillion dollars deficit last year. it's down because of higher taxes. a 60 billion check to the government from fannie and freddie. there's a down side for those of us who want the government to get its finances in order, this takes the wind out of the sails of the spending, cutting movement. maybe the deficit news helped stocks, another record close for the dow, 19th this...
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May 14, 2013
05/13
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now we only have a deficit less than 100 the next six months. the net issuance versus refunding is a little over 100. that means we have 400 billion, 400 billion that has to be made up. so basically think about this. that's being taken out of the market, out of the bond market. 400 billion is now in your hands, my hands and other folks's hands. and there's a few choices. it either has to go in the economy, which, you know it probably will go somewhat in the economy. it has to go to the short end of the curve trade better. we have this excess. or it has to make stocks trade higher. now, the problem is you might be worried some of that might go into the economy and, you know it might stimulate with a little bit of surge. basically, afterwards, we also have to cut back because the deficits in the future will be less than this trillion dollars. so if we don't taper back we will get into this hyper drive market. it's backwards. the fed has to taper back. because if you look at the numbers, it's so tremendous, these numbers are so tremendous that you
now we only have a deficit less than 100 the next six months. the net issuance versus refunding is a little over 100. that means we have 400 billion, 400 billion that has to be made up. so basically think about this. that's being taken out of the market, out of the bond market. 400 billion is now in your hands, my hands and other folks's hands. and there's a few choices. it either has to go in the economy, which, you know it probably will go somewhat in the economy. it has to go to the short...
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May 17, 2013
05/13
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then you have hdrd, housing, energy, recovery of manufacturing, and "d" is that deficit reduction down by 30%. those things, maria, confer the lift of the market. but it gets ahead of itself -- >> let me ask you one question here. this is something that i just asked brady dougan, the ceo of credit suisse. and that is that 30% of the accounts in the private bank and a lot of private banks, by the way, 30% of accounts are sitting on cash. they are just unwilling to put their money to work in stocks. what do you think that tells us? does that tell us that people are more cautious thanç they er have been or does that tell us that this has whole, huge amount of potential, 30% of accounts, that they will ultimately put their money in stocks and chase this market? >> maria, we would see the glass as half full by that number, and it's very consistent with what brady dougan of credit suisse told you with our numbers at morgan stanley, where, basically, their cash balances are very, very high. the equity balances, for everybody, all combined in the united states, 34% of the portfolios are in e
then you have hdrd, housing, energy, recovery of manufacturing, and "d" is that deficit reduction down by 30%. those things, maria, confer the lift of the market. but it gets ahead of itself -- >> let me ask you one question here. this is something that i just asked brady dougan, the ceo of credit suisse. and that is that 30% of the accounts in the private bank and a lot of private banks, by the way, 30% of accounts are sitting on cash. they are just unwilling to put their money...
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May 20, 2013
05/13
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it's about .2 percent of the federal deficit or you can buy the most expensive house on the market which is going for $194 million in connecticut. a lot of options, ainsley. >> expensive to buy up here. that's why we want to buy homes in florida. we will let you know what we can do with 590 million bucks. based on the average salary in the country where the winning was told it would take 16,135 years to earn the jackpot. you could buy 26,550 ford f150s if you have a big enough garage. if you have enough money you could build it. or if you are a baseball fan you can get 26 percent of the new york yankees valued at $2.3 billion. >> the national debt 16 trillion you would have to win the $590 million prize over 28 times. you would have to win it quite a lot. >> it's fun to look at the numbers and image what you could do with the water. >> from the city of water to the city of love for sure. they have helped bring together hundreds of couples and they want to match unemployed people with the perfect career. >> remember ben affleck's marriage to jennifer garner was work when he was at the pod
it's about .2 percent of the federal deficit or you can buy the most expensive house on the market which is going for $194 million in connecticut. a lot of options, ainsley. >> expensive to buy up here. that's why we want to buy homes in florida. we will let you know what we can do with 590 million bucks. based on the average salary in the country where the winning was told it would take 16,135 years to earn the jackpot. you could buy 26,550 ford f150s if you have a big enough garage. if...
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May 18, 2013
05/13
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the faxes are deficits go down faster than they have in decades. but we still have to create a budget that is smart and doesn't hurt middle-class families are critical investments in our future. barbara mikulski is fighting hard to make sure that this sequester that is slowing down growth that we start to see growth slowing down because of furloughs and cuts in defense spending a whole bunch of stuff that was a well thought through come with guy to make sure we got a budget that doesn't push our economy back down. we need an economy that pushes our budget back. the american auto industry is thriving. american energy is booming. american ingenuity has the potential to change the way we do almost everything thanks to the determination of the american people, we've been able to clear away the rubble of the crisis appeared were now progress, but her work is not done in our focus cannot drift. with got to stay focused on our economy and putting people back to work in raising wages and burning manufacturing back to united states of america. that has to b
the faxes are deficits go down faster than they have in decades. but we still have to create a budget that is smart and doesn't hurt middle-class families are critical investments in our future. barbara mikulski is fighting hard to make sure that this sequester that is slowing down growth that we start to see growth slowing down because of furloughs and cuts in defense spending a whole bunch of stuff that was a well thought through come with guy to make sure we got a budget that doesn't push...
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May 20, 2013
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four dead at 7/11 store there four more dead as they tried to get into a freeze tore escape this storm deficit all around. reminiscent of joplin, missouri. bark ripped off the trees. trees split in half. its insulation up in the branches. it is twisted metal around telephone poles. at the 7/11 it' as to be a gas pump but it's nothing but electronics and wires hanging out. the pump stilted sideways it gives you chills. is it doesn't matter last when i was on the ground covering deadly tornadoes and last night covering these and now it doesn't matter how many times you see this. it's just absolutely gives you the shivers and to sit here right now. first responders from all over flooding in here. yelling at each other. shep then excuse me for just a moment. live witness from k next thing you know coming across. bricks hear if coming in. it was trying to stuck the storm seller out of the ground unlastled latch the door. caved the door. in once if ended he we of course got out. i car is gone. i can't find it inspects nowhere to be found and there is an sin angel of brandon brought me home. when i g
four dead at 7/11 store there four more dead as they tried to get into a freeze tore escape this storm deficit all around. reminiscent of joplin, missouri. bark ripped off the trees. trees split in half. its insulation up in the branches. it is twisted metal around telephone poles. at the 7/11 it' as to be a gas pump but it's nothing but electronics and wires hanging out. the pump stilted sideways it gives you chills. is it doesn't matter last when i was on the ground covering deadly tornadoes...
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May 16, 2013
05/13
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, the trade deficit shrinking this past week we $200 million, all of that hurt gold. so that's a good sell-off for gold. but for the longer term, i think that will change. >> yeah, i've made a list here, and george mentions the dollar, one of the things on my list for all the negatives for gold. you've got momentum on the wrong side, right? four-week low. technicals on the wrong side, below 1,400. the stock market rally, which is negative for gold. you have some big money getting out. and then you have, while physical demand is picking up all around the world, it's not enough to offset some of the investment dumping in etfs pensions, and other things that are going on. finally a positive. >> you hit the nail on the head. the trend right now is your friend. you have a stronger dollar, a stronger economy across the world. the trade on right now is buy the s&ps, buy the nikkei, buy the dax, buy everything, sell gold. that is the rotation that people are moving into, especially funds. and until that trade gets unwound, that's the trade on. i think if we see the s&ps fall
, the trade deficit shrinking this past week we $200 million, all of that hurt gold. so that's a good sell-off for gold. but for the longer term, i think that will change. >> yeah, i've made a list here, and george mentions the dollar, one of the things on my list for all the negatives for gold. you've got momentum on the wrong side, right? four-week low. technicals on the wrong side, below 1,400. the stock market rally, which is negative for gold. you have some big money getting out. and...
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May 20, 2013
05/13
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our deficit is dropping. it is dropping to a very manageable level. again, that is a really manageable good level. connell: you are ready to argue that point. >> by 2017, the deficits will start going up again. they often say that there is no balance in this budget. the president has said again and again that spending cuts will equal out to tax hikes. the president that he will only raise taxes by 580 billion. the cbo says this budget raises them by $1.1 trillion. connell: we should pat ourselves on the back to even have the focus to have this conversation. we cannot get beyond, not only the scandal of the day, but the scandals of the day. i know we did one segment on it today, but they have been few and far between. >> there is no question. this has been a terrible week for the white house. we have really good economic news in a lot of ways. we are actually ssending less on obamacare than we originally thought. there is lots of good news and it. >> i do not think $59 billion is a big success story to talk about. when the president goes out there and
our deficit is dropping. it is dropping to a very manageable level. again, that is a really manageable good level. connell: you are ready to argue that point. >> by 2017, the deficits will start going up again. they often say that there is no balance in this budget. the president has said again and again that spending cuts will equal out to tax hikes. the president that he will only raise taxes by 580 billion. the cbo says this budget raises them by $1.1 trillion. connell: we should pat...
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May 15, 2013
05/13
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the true issue with deficits. when you pad the course with too much weight it doesn't make the trip as efficiently. and i do understand everybody wants to ring the bell on smaller deficits. i'm in the club as well. we need to be be honest about it. obviously that's the main motivation. but there's another. we cosigned for all the losses. just hope it doesn't mean no reform. we need a free market in housing that isn't the government. nothing talks about free markets better than a really old book. wealth of nations 1776. hey, that was a really good year by the way. adam smith. what is the underlying premise of adam smith we can apply in ample helpings to a variety of issues in the day? that is who should best deal with the procurement? whether it's a natural resource like natural gas or whether the government should decide who gets loans or what what type of loans. no, no, no. it should be free market for free men. and as the wealth of nations pointed out. don't worry about natural gas. the government can't decide w
the true issue with deficits. when you pad the course with too much weight it doesn't make the trip as efficiently. and i do understand everybody wants to ring the bell on smaller deficits. i'm in the club as well. we need to be be honest about it. obviously that's the main motivation. but there's another. we cosigned for all the losses. just hope it doesn't mean no reform. we need a free market in housing that isn't the government. nothing talks about free markets better than a really old...
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May 14, 2013
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he inherited a city with $300,000 budget deficit. the state's appointed emergency financial manager warned that the deficit could $386 million by jewel 1st. >>> in new jersey the role other coaster at seaside heights is being demolished. it was a symbol of the pamage that superstorm sandy inflicted on the east coast. those are your headlines. i'm patti ann browne. back to you. ashley: patti ann, we thank you so much. get back to the markets. call it a case of the tuesdays. the dow less than two hours from extending the win he can street of 18 straight tuesday as the market is on track to finish in record territory yet again. joining me, above pavlick, from banyon partners with his take what he is watching to drive the market higher. bob, thank you so much for joining us. so you say, look there's lots more room to the upside. i don't say that you say a lot of room but there is room to the upside. what is driving the markets right now? we've gone through earnings. the economic date at thaa is so so. by all economic accounts we're drift
he inherited a city with $300,000 budget deficit. the state's appointed emergency financial manager warned that the deficit could $386 million by jewel 1st. >>> in new jersey the role other coaster at seaside heights is being demolished. it was a symbol of the pamage that superstorm sandy inflicted on the east coast. those are your headlines. i'm patti ann browne. back to you. ashley: patti ann, we thank you so much. get back to the markets. call it a case of the tuesdays. the dow less...
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May 15, 2013
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this trust deficit is something we should not ignore. it's an alarming indication of how the american people view their government, one that continues to overreach. and for those of us who are trying to assure our constituents that we're doing everything we can to keep this government from overreaching, that we need to restore this trust, we now are hit with something like this. the i.r.s. is given the responsibility of carrying out the law. it should never use its powers for partisan purposes. ever. violating that standard destroys the integrity of our government and further loses the trust of the american people. neither those of us who make the law nor those of us who enforce the law can be above the law, but the i.r.s. believed it was above the law when it targeting conservative groups for scruti scrutiny. and make no mistake, it is the i.r.s. that will be under scrutiny because of their own abuse, and so will every other agency of government, because d're beginning to disturbing pattern of politically motivated abuse. sometimes i th
this trust deficit is something we should not ignore. it's an alarming indication of how the american people view their government, one that continues to overreach. and for those of us who are trying to assure our constituents that we're doing everything we can to keep this government from overreaching, that we need to restore this trust, we now are hit with something like this. the i.r.s. is given the responsibility of carrying out the law. it should never use its powers for partisan purposes....
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May 20, 2013
05/13
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with deficits better than we thought they would be with other outside things like the sequester, that will give more fuel to the fire. i would pile everything in, but i would slowly be putting money to work in the stock market because this thing doesn't look to slow down. everybody wants the 4% pullback. we got the 4% pull back, april 11th to april 16th. what is that between friends that was your opportunity. david: hold on a second. joe has tivo earnings. go ahead, joe, what are they? >> tivo did well, it was a beat on eps and revenue t was a beat on projected to be a loss of 14 cents. a beat on $86.2 million which was a beat of the estimate, 61.87. tivo which is trying to stay relevant had good news coming out today "after the bell.". david: not an earnings report. this was a loss report. but very good news. liz: important to point out, you're looking revenue, 13% year-over-year increase in the technology revenue. this is a stock while down for the quarter is up about 31% year-over-year. still no word, i know, joe you will be looking for this, to see if there is any mention of upcom
with deficits better than we thought they would be with other outside things like the sequester, that will give more fuel to the fire. i would pile everything in, but i would slowly be putting money to work in the stock market because this thing doesn't look to slow down. everybody wants the 4% pullback. we got the 4% pull back, april 11th to april 16th. what is that between friends that was your opportunity. david: hold on a second. joe has tivo earnings. go ahead, joe, what are they? >>...
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May 18, 2013
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they are operating from such a credibility deficit, it's impossible for them to get theic way out of it unless they have some sort of wholesale revamp. i hope somebody uses this opportunity, like was said, never let a crisis go to waste. tax reform could solve this in the long run. the irs is going to have to do a wholesale name change, sort of like philip morris when it loste its entire reputation, retooled, revamped, comes up with a new name, a company that stays out of the news for the most part. the irs has -- people do not trust it. so you can't have them taking care of your most personal details. it's not going to work. >> greg, you're smiling. >> because the irs in charge ofe obamacare, it's like a junky running a pharmacy. what it really is, it's like th tsa, the tsa invades you at youa mostde vulnerable state. you are at mo the mercy of these entities. the irs in a wayies is like thea in that it's guilty of profiling. this percent persecution is more perion knishes. first they is violate you at the airport. they violate youle withnt your . they violate you with health care.
they are operating from such a credibility deficit, it's impossible for them to get theic way out of it unless they have some sort of wholesale revamp. i hope somebody uses this opportunity, like was said, never let a crisis go to waste. tax reform could solve this in the long run. the irs is going to have to do a wholesale name change, sort of like philip morris when it loste its entire reputation, retooled, revamped, comes up with a new name, a company that stays out of the news for the most...
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May 17, 2013
05/13
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and there was some positive news on the deficit. but both of those items will take a long time to pay dividends. and the administration will have to still fight the crises for now, if they ever want to be able to maximize both of these agenda items in the long term. wolf? >> jessica yellin over at the white house, thanks very much. let's dig a little bit deeper now with our chief political correspondent, host of the "state of the union" candy crowley. the president trying to change the subject today, didn't work that well, because the subject is still out there. >> there's a formula for presidents who get into political trouble. and it begins with trying to change the questions. which he did pretty well, i think, in the rose garden, at least it was a good first step. went out there and said, okay, what we really noo ed is money to help secure the embassies. that was his response to the benghazi problem. he talked about the irs, and said, well, this was done, because i take these leaks very seriously, because they endanger americans.
and there was some positive news on the deficit. but both of those items will take a long time to pay dividends. and the administration will have to still fight the crises for now, if they ever want to be able to maximize both of these agenda items in the long term. wolf? >> jessica yellin over at the white house, thanks very much. let's dig a little bit deeper now with our chief political correspondent, host of the "state of the union" candy crowley. the president trying to...
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May 14, 2013
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immigration reform, budget deficit deal, another attempt at gun control. up in of that has been talk about since last week and all but a handful of questions today were about the app and the irs subjecting tea party groups to scrutiny. the president says if the irs officials acted inappropriately, they should be held ant credible. and on the phone records, he says mr. bober bober believes reporters should have unfettered access even as the government protects its secrets. >> believe it's possible to strike that balance and at the same time subpoena the phone records? >> i can't comment on the specific reports you cite. i can say the president does believe that the balance should be sought and can be found but it is a balance and, therefore, something that we need to constantly work at. >> the obama administration has launched six prosecutions for leaking classified information, which is more than all previous presidents come bind, shepard. >> shepard: on benghazi some observed that jay carney seems to not believe any of the questions about that are still l
immigration reform, budget deficit deal, another attempt at gun control. up in of that has been talk about since last week and all but a handful of questions today were about the app and the irs subjecting tea party groups to scrutiny. the president says if the irs officials acted inappropriately, they should be held ant credible. and on the phone records, he says mr. bober bober believes reporters should have unfettered access even as the government protects its secrets. >> believe it's...
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May 18, 2013
05/13
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time to get his second term agenda accomplished, which, of course, includes immigration reform and deficit reduction. alex? >> kristen we will kerr from the white house, thank you so much. >>> to catch a thief. the vanishing act for more than $1 million in jewelry at the world's most famous film festival. tter. so now i can help make this a great block party. ♪ [ male announcer ] advair is clinically proven to help significantly improve lung function. unlike most copd medications, advair contains both an anti-inflammatory and a long-acting bronchodilator working together to help improve your lung function all day. advair won't replace fast-acting inhalers for sudden symptoms and should not be used more than twice a day. people with copd taking advair may have a higher chance of pneumonia. advair may increase your risk of osteoporosis and some eye problems. tell your doctor if you have a heart condition or high blood pressure before taking advair. ask your doctor if including advair could help improve your lung function. [ male announcer ] advair diskus fluticasone propionate and salmeter
time to get his second term agenda accomplished, which, of course, includes immigration reform and deficit reduction. alex? >> kristen we will kerr from the white house, thank you so much. >>> to catch a thief. the vanishing act for more than $1 million in jewelry at the world's most famous film festival. tter. so now i can help make this a great block party. ♪ [ male announcer ] advair is clinically proven to help significantly improve lung function. unlike most copd...
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May 13, 2013
05/13
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the deficit matters. if you have over 200% debt to gd ratio you have finance it domesticly. if you have foreigners buying your currency it matters. prirnt money like crazy, this can not have a good ending. cyprus when that blew up it was, a big deal. but japan is of course much bigger deal. we've always argue we never had a eurozone crisis. that is good news. bad news we have a global crisis that might focus on the japan or the u.k.. lori: what should that basket of currencies look like for the best investment? >> there is no safe haven as i indicated. you have to spread your eggs. one the cure return sis more than many others do is the euro priest sigh list because everybody else hates it. they're mopping up liquidity where everyone else is printing money. they have a lot of pain. the reason they have pain is they're not print enough money. i'm not saying buy equities but the currency can be stronger. ultimately you have to have a basket. can't put money one egg, be it australian dollar or the looun any or whatever it may be. lori: axel merk. thanks for coming in. melissa:
the deficit matters. if you have over 200% debt to gd ratio you have finance it domesticly. if you have foreigners buying your currency it matters. prirnt money like crazy, this can not have a good ending. cyprus when that blew up it was, a big deal. but japan is of course much bigger deal. we've always argue we never had a eurozone crisis. that is good news. bad news we have a global crisis that might focus on the japan or the u.k.. lori: what should that basket of currencies look like for the...
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May 16, 2013
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the heat erasing 11-point second-half deficit to knock out the chicago bulls in game five. the heat again in the eastern conference finals. they await the winner of the pacers and knicks. the pacers could close that thing up at the garden tonight. >> so it could be the pacers versus memphis? >> potentially, yes. >> that's what you're hoping for. >>> turning to college basketball, rutgers university has announced julie herman as its new athletic director. herman replaces the former a.d. who resigned after a video came out of the school's former men's basketball coach mike rice. >> ow. >> caught on camera hurling basketballs at players and using in a couple cases gay slurs during practice. hermann would be rutgers' first female a.d. she comes from louisville where she served as their athletic director's top deputy. she's got more than 30 years in college athletics but no prior experience as the head of a school's athletic program. >> mike, are there a lot of top program -- >> five. she becomes the fifth in d-1 schools. >> good move. move>> g >>> up next, author, columnist, ke
the heat erasing 11-point second-half deficit to knock out the chicago bulls in game five. the heat again in the eastern conference finals. they await the winner of the pacers and knicks. the pacers could close that thing up at the garden tonight. >> so it could be the pacers versus memphis? >> potentially, yes. >> that's what you're hoping for. >>> turning to college basketball, rutgers university has announced julie herman as its new athletic director. herman...